Orion Portfolio Solutions LLC Sells 9,428 Shares of Salesforce, Inc. (NYSE:CRM)

Orion Portfolio Solutions LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 13.4% in the 4th quarter, HoldingsChannel reports. The fund owned 60,713 shares of the CRM provider’s stock after selling 9,428 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Salesforce were worth $20,298,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its position in shares of Salesforce by 10.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 564,783 shares of the CRM provider’s stock worth $188,824,000 after buying an additional 55,424 shares during the last quarter. Broadway Wealth Solutions Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $407,000. Norges Bank acquired a new position in shares of Salesforce during the fourth quarter worth $3,599,867,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Salesforce during the 4th quarter valued at $10,094,000. Finally, Rockbridge Investment Management LCC acquired a new stake in shares of Salesforce in the 4th quarter worth $231,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.1 %

Shares of NYSE CRM opened at $277.88 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $310.49 and a 200 day moving average of $310.51. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market cap of $267.04 billion, a PE ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.